Board increases quarterly common dividend by 5.7 percent to $0.92

SAN ANTONIO, July 27, 2023 /PRNewswire/ -- Cullen/Frost Bankers, Inc. (NYSE:CFR) today reported second quarter 2023 results. Net income available to common shareholders for the second quarter of 2023 was $160.4 million compared to $117.4 million in the second quarter of 2022. On a per-share basis, net income available to common shareholders for the second quarter of 2023 was $2.47 per diluted common share, compared to $1.81 per diluted common share reported a year earlier, representing a 36.5 percent increase. Returns on average assets and average common equity were 1.30 percent and 19.36 percent, respectively, for the second quarter of 2023 compared to 0.92 percent and 13.88 percent, respectively, for the same period a year earlier.